Indonesia’s GDP grows 5.02 percent in Q3, slowest in two years
The Statistics Indonesia (BPS) announced on November 4 that the country’s economic growth reached 5.02 percent in the third quarter, the lowest level in more than two years.
Jakarta (VNA) – The Statistics Indonesia (BPS) announced onNovember 4 that the country’s economic growth reached 5.02 percent in the thirdquarter, the lowest level in more than two years.
The figure was close to the 5.01 percent growth expected in Reuters poll and lowerthan the 5.05 percent expansion in the second quarter.
Though Indonesia, the largest economy in Southeast Asia, relies more ondomestic demand, its growth has also been hurt by slowing global trade as theUS-China tariff dispute affected its exports. That in turn has dented consumersentiment and overall domestic consumption.
The Bank Indonesia (BI) has cut interest rates four times by a total of 100basis points since July, and is expected to ease again in the coming months.
President Joko Widodo, who won re-election in April promising more investmentopportunities, is under pressure to avoid a sharp downturn. However, Widodo haslittle headroom to open the fiscal spigot as government income has been hit byweak corporate earnings and the broader slowdown.
In his inauguration last month, Widodo reiterated his ambitious plans of makingIndonesia one of the world’s top five economies by 2045 with a GDP worth 7trillion USD. And to do that, investment must play a much bigger role.
Reflecting lowered expectations, Finance Minister SriMulyani Indrawati in August cut the 2019 GDP growth outlook to 5.08 percent,compared to a target of 5.3 percent.
On November 4, she said the fiscal deficit would be allowed to widen to 2percent of GDP this year, up from 1.84 percent originally planned, due torevenue pressures./.
The Indonesian government is mulling a plan to impose temporary additional duties on imports of textiles and textile products (TPT) as a safeguard measure to protect the domestic upstream industry from a recent surge in imports.
Indonesia’s Ministry of Trade is expecting that the Regional Comprehensive Economic Partnership (RCEP), a landmark trade deal between ASEAN countries and six major economies, will be signed in November 2020.
Indonesia will stop exports of nickel ore immediately in the context that the world’s biggest nickel ore producer is seeking to promote domestic metallurgy industry, towards increasing the national budget revenue.
Priorities in Asia’s trade and economic policies in 2020 were the focus of a workshop which was held late October in Jakarta, Indonesia, attracting the participation of Indonesian and foreign economists and scholars, besides Indonesian policy makers and foreign diplomats.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
A corner of Jakarta (Photo: thejakartapost.com) 
